German bank Erste issues 15Y bonds worth EUR 1.5 bln for Slovak government
Slovakia was rated A2 stable by Moody’s.
German bank Erste Group issued 15-year bonds at EUR 1.5 bln for the Slovak government, the bank announced in a Jan. 13 press release.
“Erste Group Bank AG (”Erste Group”) through its subsidiary Slovenska sporitelna successfully managed a EUR 1.5 bln 15-year new issue for the Slovak government as joint lead manager,” Erste wrote in press release.
The success of the initial bond order prompted the bonds to be sized at EUR 1.5 bln. More than 80 percent of subscribers were foreign investors
The bonds boast the longest-term issue in the CEE since 2011.
Erste Group predicts growth in Slovakia in the coming year with GDP expected at 1.7 percent, boosted mainly by the export market.
